NCRI Iran News | Economy

Iran : Gasoline prices increase

The Iranian regime has increased the prices of semi-subsidized and free market gasoline. The semi-subsidized gasoline will be presented at 7,000 rails per litter. It was previously sold at 4,000 rials.

For citizens in Iran, the skyrocketing price of gasoline in relation to the value of their national currency, the rial, is shocking.

In 2007 when fuel was rationed for the first time there was widespread protests in Iran. With that memories, the Iranian regime's state security forces have been put on alert.

The surge in prices coincides with troubling economic conditions that include steep inflation, a sharply devalued currency and high unemployment.

The increase in gasoline prices follows this month surge in public transportation costs by up to 25 per cent. Taxi, metro and bus fares will all rise next month.In February also there has been 20 percent increase in water and electricity prices.

Some members of the regime's parliament and experts have warned that resentment is building over the steep price increases and that public protests could follow.

More than six months after Hassan Rouhani took office, hopes of a quick economic recovery are fading among ordinary Iranians, business owners and investors.